The offer, $13.50 per share in cash, less any applicable withholding taxes and without interest, is being made pursuant to the previously announced purchase agreement, dated February 9, 2025, among Hyatt, HI Holdings Playa B.V. and Playa.
On June 5, 2025, pursuant to the provisions of the Federal Law of Economic Competition (Ley Federal de Competencia Económica), the Federal Competition Commission (Comisión Federal de Competencia Económica) issued a resolution approving the transactions contemplated by the Purchase Agreement.
As a result of the regulatory approvals, Hyatt expects to complete the tender offer promptly following the expiration of the offer, which is scheduled to expire at 5:00 p.m., New York City time, on June 9, 2025.
Completion of the tender offer remains subject to the conditions described in the tender offer statement on Schedule TO. Assuming the minimum tender and other offer conditions are satisfied, the tendered shares are expected to be accepted for payment on or about June 11, 2025.
Pursuant to the terms of the Purchase Agreement, if the minimum tender condition in the tender offer is satisfied, along with certain other closing conditions expected to be satisfied at expiration, then on June 10, 2025, Hyatt will commence a subsequent offering period for the tender offer for any Playa ordinary shares not already tendered, which will expire at 11:59 p.m., New York City time, on June 16, 2025.
Following this subsequent offering period and the related transactions required by the Purchase Agreement, Hyatt expects to own all ordinary shares of Playa on or about June 17, 2025.
